Life Stage Gift Planner™

Over Age 65

At this stage in life, some of the financial issues donors may find themselves dealing with are:

• Shifting to income-producing assets
• Increasing cash flow—charitable gift planning can help minimize taxes
• Maintaining financial stability
• Anticipating healthcare needs and insurance coverage
• Concern about the financial future of younger members of the family
• Review will and estate plans

For the charitably inclined, certain types of gifts can provide solutions to taxing problems:

Cash, check, and credit card
A gift of cash is easy to make, and the gift is not subject to gift or estate tax. A contribution of cash or by a check that is postmarked in December is deductible for that tax year—even if UJA-Federation receives it in January—provided the account against which the check was written had sufficient funds to cover it in December. A contribution by credit card must be made by December 31 in order to be deductible for that tax year.

Charitable gift annuity
Support UJA-Federation and receive a fixed income for life. In exchange for the gift, UJA-Federation will provide payments for life to donor or a beneficiary the donor designates.

Charitable remainder annuity trust
Provides for payment of a fixed-dollar amount—annually or at more frequent intervals—to the designated beneficiary(ies). The amount must equal at least 5% of the initial fair-market value of the trust.

Charitable bequest
If donor would like to make a substantial gift for UJA-Federation but does not have the current disposable income or assets to do so now, consider a charitable bequest.

Real estate—retained life estate
Give property to UJA-Federation while retaining the right to occupy the residence or operate the farm.

Qualified charitable distribution (QCD) gift
If you are aged 70½ or older and you want to make a current gift, you might consider using a qualified charitable distribution (QCD) from your IRA to make your annual gift to UJA-Federation. Subject to meeting the requirements (described here), the amount transferred will not be included in your taxable income, and if you have reached the age of 73, the transfer will count towards your required minimum distribution.

Gifts of retirement plans at death
Retirement-plan benefits left to heirs are often more highly taxed than other assets. Consider giving them to UJA-Federation instead to make a meaningful gift and leave other assets to heirs.

Please contact us for more information!